Sumitomo Mitsui Trust Group Inc. Sells 43,842 Shares of CubeSmart $CUBE

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of CubeSmart (NYSE:CUBE) by 5.4% in the second quarter, HoldingsChannel reports. The fund owned 764,598 shares of the real estate investment trust’s stock after selling 43,842 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CubeSmart were worth $32,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. D.A. Davidson & CO. grew its position in shares of CubeSmart by 11.9% during the 2nd quarter. D.A. Davidson & CO. now owns 13,395 shares of the real estate investment trust’s stock valued at $569,000 after acquiring an additional 1,425 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of CubeSmart by 1.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 109,393 shares of the real estate investment trust’s stock valued at $4,649,000 after acquiring an additional 1,267 shares during the period. Pacific Sun Financial Corp purchased a new position in shares of CubeSmart during the 2nd quarter valued at $200,000. Securian Asset Management Inc. boosted its holdings in CubeSmart by 1.5% in the 2nd quarter. Securian Asset Management Inc. now owns 17,360 shares of the real estate investment trust’s stock worth $738,000 after buying an additional 264 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in CubeSmart by 27.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 160,181 shares of the real estate investment trust’s stock worth $6,726,000 after buying an additional 34,509 shares during the period. Institutional investors own 97.61% of the company’s stock.

CubeSmart Stock Down 0.9%

Shares of NYSE CUBE opened at $41.31 on Wednesday. The firm’s 50-day moving average price is $40.80 and its 200-day moving average price is $41.22. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 9.27 and a beta of 0.96. CubeSmart has a 12-month low of $34.24 and a 12-month high of $50.69.

CubeSmart (NYSE:CUBE) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $282.30 million for the quarter, compared to analysts’ expectations of $275.71 million. CubeSmart had a return on equity of 13.12% and a net margin of 35.44%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. CubeSmart has set its Q3 2025 guidance at 0.640-0.660 EPS. FY 2025 guidance at 2.540-2.600 EPS. On average, equities research analysts anticipate that CubeSmart will post 2.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CUBE. Evercore ISI upped their target price on shares of CubeSmart from $48.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen raised shares of CubeSmart from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. Barclays dropped their target price on shares of CubeSmart from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of CubeSmart in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their price target on shares of CubeSmart from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.06.

CubeSmart Profile

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.